Roku Acquires Quibi’s Global Content Distribution Rights
January 11, 2021
On January 8, 2021, Roku, Inc. announced that The Roku Channel will become the exclusive place to stream more than 75 premium shows and documentaries that Quibi, a streaming platform designed to deliver short‑form content, created in conjunction with Hollywood’s leading studios and production companies. Roku acquired the exclusive global distribution rights to Quibi’s award‑winning shows and will make the content available for free on an ad‑supported basis in 2021 to all Roku users. Following an internal restructuring by Quibi, Roku acquired Quibi Holdings, LLC, the company that holds all of Quibi’s content distribution rights. Cravath is representing Quibi in connection with the transaction.
The Cravath team included partner Faiza J. Saeed and associates Norman J. Walczak, Kathryn Kennedy Bleday and Monica He on M&A matters; partner Paul H. Zumbro and associate Alexander Gerten on financial restructuring and reorganization matters; partner Lauren Angelilli and associates Richard Bohm and Duncan H. Hardell on tax matters; partner David J. Kappos and associates Carys J. Webb and Daniel J. Etcovitch on intellectual property matters; senior attorney Romica Singh and associates Sally Ye and Tiffany B. Wong on executive compensation and benefits matters; partner Matthew Morreale on environmental matters; and senior attorney Joyce Law and practice area attorney Laurel R. Berkowitz on real estate matters. Joana W. Li also worked on tax matters.
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J.D., 1991, Harvard Law Schoolmagna cum laude
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J.D., 1997, Columbia Law SchoolHarlan Fiske Stone Scholar
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J.D., 2000, Harvard Law Schoolcum laude
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B.S., 1996, The Wharton School of the University of Pennsylvaniamagna cum laude
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J.D., 1990, University of California, Berkeley, School of Law
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J.D., 1997, Columbia Law SchoolHarlan Fiske Stone Scholar
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J.D., 2016, Columbia Law SchoolHarlan Fiske Stone Scholar
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Deals & Cases
December 09, 2020
Quibi’s Wind-Down Process
On October 21, 2020, Quibi Holdings, LLC, a streaming platform designed to deliver short-form content, announced that it was winding up its business in order to preserve as much value as possible for its equity holders. As a result, the company will cease to carry on business except to the extent beneficial for the winding down thereof and to preserve the liquidation value of the company’s assets. Cravath is representing Quibi and its Board of Directors in connection with its out-of-court wind-down process.
